NextPlay Technologies, Inc., a digital business ecosystem for digital advertisers, consumers, video gamers and travelers, announced the formation of NextCapital, Inc., a consolidation of NextPlay’s financial services, financial technology and insurance businesses , including its controlling stake in Longroot Limited, which controls Thai Initial Coin Offering Portal authorized by SEC Longroot (Thailand) Company Limited – and 100% -owned NextBank International, formerly International Financial Enterprise Bank (IFEB) whose headquarters are in Puerto Rico.
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Appointed to head NextCapital as chairman and interim CEO will be co-chairman of NextPlay J. Todd Bonner, former co-founder and director of Pacific Century Insurance Limited Hong Kong, which was sold to Fortis Insurance Asia in 2007 for around $ 900 million.
Mr Bonner said NextCapital plans to engage in insurance and alternative asset management business, offering quality alternative assets in the form of crypto-secure blockchain. The assets will be designed to operate during market volatility and will, in part, be derived from cooperation with large multinational conglomerates that have divisions or subsidiaries that are experiencing high growth, but whose assets exhibit a low correlation with volatility. of the stock markets.
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“With our recent acquisition of NextBank International (formerly IFEB),” he said, “we will offer a range of alternative assets deemed more resilient to market downturns as well as insurance products, designed to protect wealth. of our banking customers. The NextBank charter is broad, allowing us to offer asset banking, asset management, investment banking and insurance products, subject to license.
“NextCapital is now applying for these licenses and expects them to be granted towards the end of the third quarter. In this process, ”he added,“ we will include products for the global crypto community and invest time and resources in NextBank interfaces to enable us to serve this segment. “
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